First Financial Bankshares (FFIN) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $52.00 target price on the bank’s stock.

According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “

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Other analysts have also recently issued reports about the company. ValuEngine raised First Financial Bankshares from a hold rating to a buy rating in a research report on Monday, April 2nd. BidaskClub raised First Financial Bankshares from a hold rating to a buy rating in a research report on Friday, March 9th. Keefe, Bruyette & Woods reissued a hold rating and issued a $47.00 price target on shares of First Financial Bankshares in a research report on Tuesday, February 27th. Hovde Group set a $46.00 price target on First Financial Bankshares and gave the stock a hold rating in a research report on Monday, January 29th. Finally, SunTrust Banks reissued a hold rating and issued a $48.00 price target on shares of First Financial Bankshares in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $44.71.

Shares of FFIN opened at $47.60 on Tuesday. First Financial Bankshares has a 52 week low of $36.85 and a 52 week high of $49.60. The company has a market capitalization of $3,246.98, a PE ratio of 28.00 and a beta of 1.27.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). First Financial Bankshares had a return on equity of 12.61% and a net margin of 35.72%. The company had revenue of $83.20 million during the quarter, compared to the consensus estimate of $90.40 million. research analysts predict that First Financial Bankshares will post 2.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were given a $0.19 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $0.76 annualized dividend and a yield of 1.60%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 44.71%.

In other First Financial Bankshares news, Director Johnny Trotter acquired 11,400 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $45.10 per share, with a total value of $514,140.00. Following the transaction, the director now owns 388,938 shares of the company’s stock, valued at approximately $17,541,103.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven L. Beal sold 15,973 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $47.37, for a total value of $756,641.01. Following the completion of the transaction, the director now directly owns 1,465 shares in the company, valued at $69,397.05. The disclosure for this sale can be found here. Corporate insiders own 4.77% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System lifted its position in First Financial Bankshares by 6.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the bank’s stock valued at $1,284,000 after acquiring an additional 1,700 shares in the last quarter. BB&T Securities LLC lifted its position in First Financial Bankshares by 10.2% in the 4th quarter. BB&T Securities LLC now owns 18,605 shares of the bank’s stock valued at $838,000 after acquiring an additional 1,719 shares in the last quarter. First Republic Investment Management Inc. lifted its position in First Financial Bankshares by 14.8% in the 4th quarter. First Republic Investment Management Inc. now owns 15,753 shares of the bank’s stock valued at $710,000 after acquiring an additional 2,036 shares in the last quarter. Aperio Group LLC lifted its position in First Financial Bankshares by 13.9% in the 4th quarter. Aperio Group LLC now owns 18,057 shares of the bank’s stock valued at $813,000 after acquiring an additional 2,210 shares in the last quarter. Finally, Meadow Creek Investment Management LLC lifted its position in First Financial Bankshares by 33.2% in the 4th quarter. Meadow Creek Investment Management LLC now owns 9,146 shares of the bank’s stock valued at $412,000 after acquiring an additional 2,278 shares in the last quarter. 51.51% of the stock is currently owned by institutional investors and hedge funds.

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About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

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